You begin the month armed with good intentions, and a budget you never stick to, so is it any surprise that you’re nearly broke just two weeks after getting your salary?
Overspending slowly creeps up on us, so most of us don’t even realize that we’re guilty. Here’s how to know if you need to stop overspending:
1. You don’t know the amount in your everyday bank account
You won’t know the bank balance in your account if you’re always spending money on something. The frequent deductions also make you a little nervous about opening the alert texts from your bank because you know the balance is scary. Are you guilty if this?
2. You are always giving yourself a treat
Self-care is awesome, but giving yourself a treat every other day is a sign that you’re overspending, plain and simple.
3. You buy things you don’t need
When you find that your home is filled with stuff you don’t need and will not use, it’s a clear sign that you need to stop overspending.
4. You don’t have a nest egg
You’ve got no emergency funds, barely any savings, and if it wasn’t because your employer automated payments into your pension fund, you wouldn’t have anything saved towards pension either.
5. You don’t know how much you spend every month
Houston, we have a problem! If you can’t track where your money goes every month, then you are probably going overboard with spending.
Are you spending too much money? You can try out these creative ways of saving money.